(CN) – President Obama ordered the federal government to abandon procedures for regulatory planning and review established by former President George W. Bush, by revoking two executive orders that focused agencies on the market and on the cost of implementing regulatory actions, over how they protect or help citizens.
Bush’s orders emphasized agencies’ identification of how the market failed to provide what a regulation seeks to deliver, over other problems the regulation may seek to address, such as failures of public institutions. The orders also required that each agency prepare a cost benefit analysis of all regulatory actions planned for the year to help the administration establish priorities.
Under Bush’s orders, any regulation or proposed regulation had to pass through a presidential appointee directing the regulatory effort of the agency. Also, the orders had the Office of Management and Budget perusing regulatory guidance documents to determine which may be financially significant, and therefore merit further review. Guidance documents ordinarily would be released to the public to help citizens wade through new requirements.
Click the document icon on the front page for details and links to the new executive order. The document icon under the “Electrified Waters, Middle-Class, Nextel & More” heading leads to other new orders and regulations.